Cuba's Informal Currency Market Remains Steady Despite Past Gains

In Cuba's informal currency exchange market, the US dollar and euro remained unchanged as of Friday, July 31. The dollar held steady at 673 Cuban pesos (CUP), with no fluctuations compared to the previous day. Over the week, the rate has stayed virtually unchanged, but over the month, it increased by nearly 50 pesos from its value 30 days ago.

The euro, meanwhile, closed at 785 CUP, unchanged from the previous day and a week ago. However, over the month, it showed a gain of 79 pesos compared to its value 30 days ago, an 11.2% increase.

The MLC exchange rate fell by 3 pesos from the previous day, closing at approximately 471 CUP. Despite this slight decrease, its volatility remains high due to limited circulation and physical presence in state-run stores that accept it.